CAJ Rating Decreased To Hold By Zacks Analysts


Zacks Investment Research downgraded their rating for Canon (NYSE: CAJ) to “hold” from “buy” on 28th June, Monday. Mizuho as well had decreased its rating for the stock to “neutral” from “buy” on 9th March, Tuesday.

Details Of CAJ Stock

The stocks of CAJ traded downwards on Monday by $0.46, hitting the mark of $23.05. The stock volume on the day was 215,343 which was lower than the average volume of 272,388. The moving average value over a period of 50 days currently stands at $23.63. The market capitalization value stands at $24.52Bn with a 24.01 P/E ratio, a 17.03 growth ratio between price and earnings, as well as a 0.39 beta. The highest and lowest value of the company over a period of 12 months currently stands at $25.94 and $15.46 respectively.

The latest quarterly earnings result of CAJ stock was reported on 25th April, Sunday. An EPS of $0.40 was reported, topping the consensus $0.27 estimate by Zacks’. Along with that a 3.90% equity return and a 3.29% net margin were reported. The quarterly revenue of the company was reported to be $7.95Bn which was lower than the estimated $7.96 revenue. The general consensus analysts predict that the company will report an EPS of $1.37 for the present fiscal year.

Quite a few institutional investors made modifications in their stake in the company. Baird Financial Group Inc., boosted its holdings by 31.7% during the fourth quarter. They now own 38,914 CAJ shares worth an estimated $755,000. Quantitative Systematic Strategies LLC bought $22500 worth of shares during the first quarter. Fulton Bank N.A. bought $393,000 worth of shares during the first quarter. Ritholtz Wealth Management bought $242,000 worth of shares during the first quarter. Natixis Advisors L.P. bought $1,844,000 worth of shares during the first quarter.